86 former KFTC officials moved to South Korea’s top 10 law firms over past decade

  • 86 former KFTC officials moved to the top 10 law firms.
  • Kim & Chang received 21, with average monthly compensation of 30.59 million won.
  • Top 10 firms handled 191 of 263 collusion lawsuits filed with KFTC.

A total of 86 former Korea Fair Trade Commission (KFTC) officials moved to South Korea’s 10 largest law firms between January 2016 and August, according to National Health Insurance Service data provided to Han Chang-min, a Social Democratic Party member of the National Assembly’s National Policy Committee. Kim & Chang received 21 former officials, followed by Lee & Ko with 13, Yulchon with 11 and Hwawoo with 10. The 21 former KFTC officials who joined Kim & Chang earned average monthly compensation of 30.59 million won, compared with 8.25 million won in their final public-service salaries. Hwawoo offered an average of 21.54 million won, while Lee & Ko offered 18.23 million won. Leading law firms value former KFTC officials’ experience and networks in major collusion and market-dominance cases. From January 2021 through July 10, over a five-year, six-month period, the top 10 firms handled 191 of 263 collusion-related lawsuits filed with the KFTC, or 72.6%. The Public Official Ethics Act restricts former officials from handling cases they directly managed or improperly soliciting or mediating with their former agencies, while allowing relatively broad movement to law firms or corporations after three years of retirement.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.